Here is some very basic/introductory reading list for the interested reader:
Introduction. What is Economics and Art?
The history of Art Markets, Neil de Marchi and Hand J. Van Miegroet, (Ginsburgh and Throsby, Chapter 3)
Economic Approach to Aesthetics, Bruno Frey (Sakai)
The Arts in the “New Economy”, William Baumol (Sakai)
Growth of the Arts sector (Heilburn and Grey, Chapter 2)
Pricing and Valuation
Art investment returns, Frey and Eichenberger (Sakai)
Art Auctions, Orley Ashenfelter and Kathryn Graddy (Sakai)
Sales Rates and Price Movements in Art Auctions, Orley Ashenfelter and Kathryn Graddy (Sakai)
Price Fixing at Auctions, Orley Ashenfelter and Kathryn Graddy (Sakai)
LA galleries reframe the recession, LA Times
Timeline: Museums and the recession, ArtInfo
Is art market behavior predictable? Olivier Chanel (Sakai)
Labor Markets
Artistic Labor Markets: Contingent Work, Excess Supply and Occupational Risk, Pierre-Michel Menger, (Ginsburgh and Throsby, Chapter 22)
Artists’s Careers and their labor markets, Neil Alper and Gregory Wassall, (Ginsburgh and Throsby, Chapter 23)
Human Capital and the Artists’ Labor Market, Ruth Towse (Ginsburgh and Throsby, Chapter 24)
Stardom and Talent, Moshe Adler (Ginsburgh and Throsby, Chapter 25)
Legal Issues
Art Fakes, Frey
The economic Analysis of Art Law, William Landes and Daniel Levine, (Ginsburgh and Throsby, Chapter 7)
Copyright, Art and the Internet: Blessing the Curse, Patric Legros, (Ginsburgh and Throsby, Chapter 9)
Policy-making
Should the government subsidize the arts? (Heilburn and Grey, Ch. 11)
Public and/or private support for the arts in the United States, Canada, and Western Europe (Heilburn and Grey, Ch 12)
Public support, Frey (Sakai)
The making of Cultural Policy: A European Perspective: Frederick Van der Ploeg, (Ginsburgh and Throsby, Chapter 34)
Cultural Policy: An American View: Dick Netzer, (Ginsburgh and Throsby, Chapter 35)